Mayor Helena Moreno’s administration will seek a property tax hike before the end of the year, in another potentially controversial revenue proposal to help stabilize city finances.
Officials hope to raise an additional $42 million from higher property taxes, but they are not yet releasing further details. It’s not clear exactly which millages would be raised, or by how much. The potential impact on tax bills won’t be known until the administration puts forth a proposal.
In a statement, city Chief Administrative Officer Joe Giarrusso said property tax increases are part of “a menu of options.”…